Would-Be Buyer Seeks
Creative Finance Options

By

James R. Hagerty

Updated Aug. 6, 2004 11:59 p.m. ET

Question: I've recently begun shopping for a second home in my neighborhood as an investment. The plan is to buy, fix and sell the property in a short period of time. The house I'm eyeing is just down the street from my home and could hold $20,000 to $30,000 in profits after repairs and improvements.

The problem is, I can't figure out how to pay for this property. I just closed on my existing house (my first home purchase) in May. I've renovated it and added roughly $20K to the value, but because I've owned the home for...